Gold saw a sharp rally in North American trading as the increase in the weekly claimant count in the US was flagged by the market as a potential reason for the Fed to consider cutting rates. This of course would have inflationary effects and would then be potential reason for central banks to increase gold…
The immediate response for the Bank of England’s vote to hold steady and clear shift to a dovish stance in the breakdown saw the British Pound losing ground only to see a big bounce on weakness in the US weekly claimant data. While the change in policy bias for the BoE is clear absent any…
The Bank of England’s latest Monetary Policy Committee (MPC) meeting concluded with the decision to maintain the bank rate at a 16-year high of 5.25%, with the committee voting 7-2 in favor of holding the rate steady. The decision comes amid shifting expectations and a more dovish tilt in the discussions, hinting at potential rate…
Euro saw a very tight range against the dollar Wednesday with a lack of fresh incentive to take action and a holiday in France likely sapping any interest to speculate. Ahead we may be facing more of the same given even more holidays with Germany joining the French on a break. The rest of the…
There has been little fresh catalyst to drive Bitcoin anywhere in any significant fashion with the dead cross in the moving averages keeping bulls subdued. Crypto circles continue to talk in jargon looking for a start for a push to new ATH (All-Time Highs) as in previous cases of bitcoin halving. Arguments for the upside…
The Japanese Yen has slowly been losing ground against the other majors even as in theory we actually have a closing rate gap between Japan and the likes of US, UK, and Europe. Absent any structural changes it is difficult for us to see a stronger Yen in the near term. Ultimately the Yen pairs…
The upcoming Bank of England (BoE) Monetary Policy Committee (MPC) meeting, Thursday 1100GMT, is generating significant market interest as traders and analysts anticipate the central bank’s next steps regarding interest rates amidst mixed economic signals. The meeting is set for this Thursday, with the bank rate expected to hold steady at 5.25%. Key Focus Areas:…
Tuesday finally saw a clear rejection from the trend line following through on the long daily wicks for Friday and Monday. It appears traders may be getting out of longs prior to the Bank of England’s Policy Meeting at 1130GMT. Note that we risk the BoE signalling its readiness for cutting rates soon as inflation…
The fundamental narrative for oil remains unchange, absent an actual attack on supply lines the main concern for the market has been a question of demand. China the worlds biggest oil importer remains weighed by a sluggish recover which is fast turning into a potentially wider structural malaise even as other markets also has industrial…
Gold has been on a range play ever since seeing a new historic high at April 12. Global tensions have not quite lead to a big flare up though the potential remains keeping prices elevated. Demand from central banks diversifying off fiat currency has also been a reason for this years rally but if everyone…